Gulleggið

What is Gulleggið?

number of business ideas that have gone through the program

2301

companies Founded after participation

71%

companies still operating

76%

full-time equivalent units today

315

Gulleggið is a business plan competition run by Icelandic Startups for entrepreneurs to get their business ideas noticed. It is an excellent platform to make business- and execution plans for your business idea and step forward in transforming your idea to a real start-up. Participants are offered workshops, lectures, advice and assistance from experts throughout the process. After the three workshops participants submit their fully developed business plan to a group of judges.

The winner of the competition wins Gulleggið's trophy and 1.000.000 ISK. Several other extra prices are provided by our sponsors, but the total prize pool of Gulleggið is over 3.000.000 ISK.

Before September 12th you only need to submit a short description of your idea. Preferably including the following:

The business concept

The market, advantages and distinction

Description of the team behind the idea

Workshops

Gulleggið hosts 3 workshops where participants learn the basics in founding a company and building a business model. The lectures in the workshops are in Icelandic.

WORKSHOP 1

SATURDAY 15. septemberkl. 13:00-17:00@ Reykjavik university,

Program TBA

GULLEGGIÐ KICKOFF

SATURDAY 15. septemberkl. 17:00-19:00@ Reykjavik University

LETS RAISE OUR GLASSES FOR THOSE WHO TOOK THE FIRST STEP IN FOUNDING A COMPANY!

WORKSHOP 2

Saturday 22. septemberkl. 13:00-17:00@ Reykjavik University

PROGRAM TBA

Workshop 3

Saturday 29. septemberkl. 13:00-17:00@ Reykjavik University

PROGRAM TBA

ELEVATOR PITCH NIGHT

SATURDAY 29. SEPTEMBER

PARTICIPANTS PRACTICE THEIR 1 MINUTE PITCH! WINNER GETS A PRIZE!

FAQ

Who can participate?

Everyone has participation rights to Gulleggið. Individuals from all ages, from groups of individuals to working companies. Established businesses can participate as long as their maximum yearly turnover has not hit the 10 million ISK limit.

There is also a possibility to register without an idea, and get to join an existing team.

How much is the participation fee?

There is no participation fee.

However, for the workshops; Those who are not students of participating universities of Gulleggið or recent graduates (within 5 years) will have to pay 8000 ISK to be able to attend the workshops. The workshops are individually centered, not around the competing teams.

Where do I register for the workshops?

After the 12th of September (the deadline) we will send out an email, to all participants, where you can register to a workshop.

Participants can chose from the workshops that are offered, they will be three in total. Participants are encouraged to attend the workshops because only there, they will get information and knowledge that will help when establishing a business and assistance on how to conduct a proper business plan.

How long can the explanation of a business concept be?

Before the 12th of September, you only need to send in a short description on one page about the business concept.

Few things that are good to have:

Summary of the business concept

Argument about the market, market advantage, and the novelty of the concept

A description of the team behind the business concept

NB: There will not be a special grade for the summary or the concepts that are submitted. Only those that will be submitted during Gulleggið.

Is my business concept safe in your hands?

All submitted business concepts of Gulleggið will be treated as confidential. All those who handle the business concepts of participants are to sign a confidentiality agreement and are forbidden to provide any information regarding the business plans to a third party, or take advantage of what is written in the business plans.

Do note that Gulleggið does not claim any ideas from the participants nor does Gulleggið acquire shares from any established company that goes through Gulleggið.

Language of the competition?

The competition language and language during workshops will be in Icelandic. Although it is permitted to submit the business concept in English.